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CORRECTED-Asia Gold-India discounts widen, Singapore demand up on festival buying

Physical gold discounts rose in India this week as buyers remained on the sidelines, while demand in Singapore and other Asian hubs ticked up as buyers took advantage of lower prices ahead of holidays.

India Gold Discounts Widen Singapore Demand Up On Festival Buying

BW Businessworld India Gold Discounts Widen, Singapore Demand Up On Festival Buying Indian consumers avoided gold purchases due to Khar Mass, a period considered to be inauspicious that runs from Dec. 15 to Jan. 14. Photo Credit : Physical gold discounts rose in India this week as buyers remained on the sidelines, while demand in Singapore and other Asian hubs ticked up as buyers took advantage of lower prices ahead of holidays. Indian consumers avoided gold purchases due to Khar Mass, a period considered to be inauspicious that runs from Dec. 15 to Jan. 14. People are more focused on holidays than making big ticket purchases, said Mukesh Kothari, director at Mumbai gold dealer RiddiSiddhi Bullions, adding demand would remain subdued next week.

India gold discounts widen as consumers avoid big purchases

India gold discounts widen as consumers avoid big purchases File photo: Customer looks at gold earrings at a jewellery showroom. (REUTERS)Premium Sumita Layek and Rajendra Jadhav , Reuters Indian consumers avoided gold purchases due to Khar Mass, a period considered to be inauspicious that runs from December 15 to January 14 Share Via Read Full Story BENGALURU/MUMBAI: Physical gold discounts rose in India this week as buyers remained on the sidelines, while demand in Singapore and other Asian hubs ticked up as buyers took advantage of lower prices ahead of holidays. Indian consumers avoided gold purchases due to Khar Mass, a period considered to be inauspicious that runs from Dec. 15 to Jan. 14.

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